In "UBAM – Positive Impact Emerging Equity | Impact investing in EM: after a challenging first quarter, opportunities are emerging", the document discusses the compelling business case for impact investing in emerging markets, despite the difficulties of the initial quarter.
In het oorspronkelijke stuk getiteld "Barometer: Slimme keuzes buiten opkomende markten" is het overkoepelende thema het navigeren door economische instabiliteit en het strategisch plannen van investeringskeuzes. De auteur is optimistisch over aandelen en obligaties in opkomende markten, maar blijft voorzichtig
In the original article, "Whether Pause or Pivot, Look to Bonds," the author evaluates the potential benefits of bond allocation in an impending U.S. recession. Given the current market conditions, the author advocates for a selective approach. Bonds are viewed
The text provides an in-depth analysis of the global investment landscape in the wake of the IMF's spring meetings. The main theme of the text is the increasingly complex global economic climate, which is marked by several key trends including
What Does the Stress in Regional Banking Mean for U.S. Smaller Companies? The provided text deals with the ripple effects of stress in the U.S. regional banking sector on smaller U.S. companies. The document's main theme is the aftermath of
The theme of the text pertains to current asset allocation decisions amidst a less optimistic economic outlook. The author maintains a preference for fixed income over equities, largely due to anticipated headwinds for corporate earnings and margins from higher interest
Uncertainty is the dominant theme in the equity market landscape of April 2023. Despite the anticipated end of the Federal Reserve's hiking cycle, the report underscores that this focus might miss the real picture. The Fed hikes are, in essence,
The text outlines a pragmatic approach to global asset allocation, given the prevailing economic conditions. It delves into the intricacies of economic forecasts influenced by central banks' tightening, potential banking crises, and geopolitical tensions. A slowdown in growth and continued
The guide "Investor’s guide to the debt ceiling" by BlackRock underscores potential market volatility in light of the ongoing debates among Congressional leaders regarding raising the US debt ceiling. Despite the looming uncertainty, BlackRock maintains confidence in Congress's ability to
Aegon Asset Management, in their article "The Dividend Deluge", retraces the remarkable transformation of the dividend landscape in the wake of the Covid-induced market turmoil. During the market selloff, companies were extensively cutting or suspending dividends, leading to predictions of
In "Allocating to European Equities," BNP Paribas provides a robust analysis of the unexpected resilience of the European economy and equity markets during the dramatic rise in energy prices in 2022. Drawing a parallel to the US market following the
Guide to the Markets The text above presents a comprehensive economic and market analysis by the Global Market Insights Strategy Team, led by notable experts such as Nimish Vyas, Vincent Juvyns, and Tilmann Galler. It dives into an array of
2023 is shaping up as a robust year for major developed markets, primarily driven by increasing valuations amidst weak earnings. European equities, in particular, have seen almost a 17% uptick in USD terms by the end of April. However, emerging
The month of March 2023 has been characterized by significant volatility in equities and bond markets, triggered by troubles in US and European banks, which have led to a resurgence of macroeconomic uncertainty. This situation has seen a temporary resurgence
Q2 2023 Global Market Outlook Full Report The text highlights the current economic landscape, characterized by resilient growth, slowly receding inflation, and continued monetary tightening by central banks. This creates a favorable environment for government bonds and uncertainty for equity
Meet Dominic Rizzo, the newly-appointed sole manager of the Global Technology Equity Strategy since April 1, 2023. Based in Baltimore, Rizzo brings a wealth of experience in investing across all equity style categories, from growth to value and large-cap to
2023 Q1 Capital Market Assumptions In this summary of the "2023 Q1 Capital Market Assumptions" research paper by PGIM Quantitative Solutions, we explore the main theme of global economic growth and inflation expectations over the next decade. The text explains
Expected returns for the next decade In this text, the primary theme revolves around the global economy, financial markets, and investment strategies. The discussion encompasses the calculation of return expectations for the coming five and ten years based on long-term
QUARTERLY OUTLOOK – APRIL 2023 Crisis rhymes but no repeat: equity markets left finely balanced As the global economy adjusts to a higher inflation, higher interest rate environment, echoes of the 2008 crisis can be heard. However, the policymakers and
Growth strategies have long overshadowed dividend strategies. However, changing macroeconomic conditions have turned the tables and dividend investments are enjoying their time in the sun. While this coincides with value’s long-awaited comeback, value and dividend stocks have distinctive characteristics. We
In Schroders' "Equity Lens," the main theme highlights the strong market performance during the first quarter, led by Europe ex UK with a 12.2% gain in USD terms, despite weak earnings. The text also emphasizes elevated valuation-dispersion among companies and
In "No rest for the leveraged", Allianz Research reveals an alarming trend in business insolvencies, with a predicted increase of 21% in 2023 and 4% in 2024. Half of the analyzed countries are expected to exceed pre-pandemic insolvency levels by
Bank J. Safra Sarasin's investment committee cautions that despite robust economic conditions and strong labor and retail sales data, the risk of a US recession in the next 12 months remains high, forcing market participants to take a closer look
he Fisch Asset Management report for March 2023 highlights the "Anti-Goldilocks" environment, where financial markets are behaving as if they were in a "Goldilocks environment" with moderate economic growth, rapidly falling inflation, and an imminent easing of monetary policy. However,
Global Markets: Monthly Update and Key Insights The latest global markets report reveals mixed performance in major equity markets as investors assess growth opportunities against inflation concerns, with bond prices falling globally. The report highlights the 41-year high Japanese inflation,
Investment management has evolved to prioritize risk management and identifying market factors and risk premiums to capture investment outcomes. This shift in strategy innovation is becoming less about active stock selection and more about engineering and delivering a unique, identifiable
In "Market views from BlackRock Fundamental Equities," the author navigates the complex investment landscape of the first quarter marked by high inflation, rate hikes, and a short-lived stock rally. Equities remain appealing for long-term investors, but as Q2 begins, it's
In "Sustainable dividends: The pursuit of quality and prudence," Capital Group emphasizes the importance of dividend sustainability, with a focus on historical dividend payments to provide insight into a company's commitment to paying dividends. The article notes that dividend cutters
In the article, "Quality Stocks for Long-Term Holding," Morgan Stanley outlines its analysis of the current bear market and presents its best long-term picks based on the sustainability and quality of the business model, as well as the opportunity to
Key takeaways 60/40 portfolios have certainly seen better times, having recorded their worst-performing year since 2008. A turbulent 2022, however, could be the precursor for a brighter future especially for investors looking to balance long-term growth of capital, conservation of
DoubleLine Capital has released a research report titled "Unpacking the CAPE Index," which examines the Shiller Barclays CAPE U.S. Sector Total Return USD Index (CAPE Index). The index uses a variation of the cyclically adjusted price-to-earnings ratio (CAPE ratio) to
Global growth remains resilient, but the tightening of central bank policies is expected to impact economic growth and earnings outlook in the latter half of the year. The US Federal Reserve and other central banks are hawkish due to services
Interest rate and inflation worries gain the upper hand as financial markets experience a breather after a strong start to the year. The reopening of the Chinese economy and easing inflation led to a relief rally, but higher-than-expected inflation data
The current optimism in financial markets is not only benefiting equity markets but also emerging debt markets, including the riskiest ones, known as “frontier” or “pre-emerging” markets. However, not all markets are booming. Despite specialized investors making gains of over
This report discusses how the tightening of monetary policy and inflation have affected fixed-income markets and business models, leading to tighter financial conditions that are likely to continue. The report also explores potential areas of strain for investors, such as
March 2023 2022 was certainly a tumultuous time for investors. The year was dominated by the Federal Reserve’s actions to fight inflation, particularly given the widespread perception earlier in the year that it was behind the curve. US Core inflation stood
Uncertainty about the U.S. economic outlook has seen smaller companies bear the brunt of investor fears over the past year. Valuations have fallen to extreme lows, relative to larger companies, despite earnings holding up reasonably well. With the U.S. economy
Albeit painful, bear markets can drive durable changes that can reward patient investors. Three shifts could create opportunities for growth investors: cyclicality in big tech, higher base inflation and interest rates, and deglobalization. Against this backdrop, the setups in select
Over long periods of time there are two different types of bear markets. There are those that are associated with a recession and those that are not. It is only occasionally that a bear market is associated with a recession.
Equity Market Outlook 1Q23 Economic and Market Review: Key Considerations for Equity Investors After rising interest rates, persistent inflation and geopolitical turmoil pounded equity investors in 2022, we wish we could report that a rebound appears just around the bend.
Eurozone 2023-2024 outlook shock behind, shock ahead The lengthy post-pandemic rebound wave is settling down, and growth normalisation is hitting another, more lasting shock from the war in Ukraine. This is an exceptional slowdown for the economy: annual growth of
It gives us great pleasure to present you with this ‘Guide to Conservative Investing’, which highlights fundamental insights on low-risk investing, otherwise known as low volatility investing. The publication also sheds light on the Robeco Conservative Equities strategy, which offers
Investors and companies ventured into uncharted territory following the start of the Covid crisis in early 2020, with challenging market conditions turning perceived tailwinds into headwinds and vice versa. In 2022, the fragile path to recovery was further destabilised by
Applied philosophy Are global equities in a recovery or still in the midst of a downturn? We analysed how valuations and earnings progressed through previous market cycles to get closer to an answer. While our findings provide some clues to
Monthly investment outlook Stock and bond markets continued to rally in January as falling energy prices, a reopening in China and hope for Fed rate cuts ahead drove optimism across asset classes. This optimism belies growing divergence between expectations implied
Valuations continue to favour ex-US markets Summary Markets have rallied hard in early 2023, on relief at China re-opening and on expectations that there will be a softer economic landing than previously feared in the developed world (slide 9) Europe’s
After the recent rally and downward revisions to 2023 earnings expectations EM equities are no longer cheap on a forward P/E basis. The price-book ratio is close to its historical median. On a dividend yield basis, EM remains cheap versus
An empirical analysis of ESG factors and pillars and the implications for European equity markets. Responsible investing has gained significant traction over the past decade, with environmental, social and governance (ESG) factors attracting greater attention2 . ESG scoring systems enable
Stock Market Briefing: Selected P/E Ratios
It’s been a good start to the year, with positive returns on most assets. Upcoming Fed decisions may determine the immediate path of yields. But bonds are back and we think fund flows may push …
